Regional

1:29 am

Tue December 21, 2010

ERB Funds Improve

New Mexico – State investment officials say New Mexico's educational retirement funds are up more than 13 percent over the past year.

The chief investment officer for the New Mexico Educational Retirement Board, Bob Jackshaw, calls it very good news. He says the results through Sept. 30 are the product of smart investing and improving markets.

Over the last year, the fund showed a net gain of $1.1 billion, which includes a net investment gain of $688 million during the quarter that ended in September.

The fund's total assets were at $8.8 billion.

Jackshaw says the fund had a 13.4 percent return rate for the one-year span that ended in September, outperforming its policy benchmark by 3 percent and ranking in the top 3 percent compared to investment funds in other states.